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Tuesday 06 October, 2015

Nomad Foods Limited

Findus France CWC Collective Agreement

RNS Number : 3035B
Nomad Foods Limited
06 October 2015
 

 

6 October 2015

 

Nomad Foods

Collective Agreement Entered into with the Findus France Central Works Council; Places Acquisition on Track to Close in Early November

 

 

Nomad Foods Limited (LSE: NHL) announced today that a collective agreement has been signed between the Findus France Central Works Council and representatives of Findus France following a meeting on September 29 in Paris at which representatives of Nomad Foods were in attendance, including Nomad Foods Chief Executive Officer Stéfan Descheemaeker.

 

Stéfan Descheemaeker, Nomad Foods' CEO, commented, "We are delighted that a constructive agreement has been reached with the Works Council. This key milestone places us on track to complete the acquisition of the Findus continental European business in the coming weeks and also demonstrates our confidence in and commitment to the long-term success of the Findus business in France. We are excited to move one step closer towards bringing our highly complementary businesses together and towards building a diverse and leading consumer foods company. I am confident that as we execute on our growth strategy we will bring greater choices to consumers and create value for all of our stakeholders."  

 

Steven Libermann, CEO of Findus Southern Europe, added: "Findus France employees can be satisfied by the commitments made by Nomad Foods for the long-term future of our business and our loyal customers can be reassured that they will keep enjoying locally made Findus products".

 

Nomad Foods expects that the formal opinion with respect to the transaction will be received from the Findus France Central Works Council on or around 22 October 2015 and that the transaction will close in early November 2015, subject to customary closing conditions, including regulatory approvals.

 

Forward-Looking Statements and Disclaimers

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Certain statements in this announcement are forward-looking statements which are based on Nomad's and the acquired business' expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts, including expectations regarding (i) the anticipated exercise by Nomad or one of its subsidiaries at the option of LionGem Sweden 1 AB (the "Seller"), to acquire Findus Sverige AB and its subsidiaries for approximately £500 million ( the "Option Agreement"), (ii) the anticipated closing date of the transaction, (iii) the success of the unified Findus brand; (iv) Nomad's future growth opportunities and market share; (v) targeted synergies; and (vi) the future operating and financial performance of Nomad. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including (i) the ability and willingness of the Seller to exercise its option under the Option Agreement, (ii) the ability and willingness of the parties to the definitive sale and purchase agreement (the "Transaction Agreement"), if entered into, to meet the closing conditions set forth therein (iii) economic conditions, competition and other risks that may affect Nomad's or the acquired business' future performance, (iv) the occurrence of any event, change or other circumstances that could give rise to the termination of the Option Agreement or the Transaction Agreement; (v) the risk that any condition to closing of the Transaction Agreement may not be satisfied; (vi) the risk that securities markets will react negatively to the transaction or other actions by Nomad, the acquired business and the combined group after completion of the proposed transaction; (vii) the risk that the proposed transaction disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (viii) the ability to recognise the anticipated benefits of the combination of  the acquired business and Nomad and of the combined group to take advantage of strategic opportunities; (ix) unexpected liabilities incurred or arising from the acquisition of the acquired business which are not adequately mitigated in the Transaction Agreement (x) costs related to the proposed transaction; (xi) the limited liquidity and trading of Nomad's securities; (xii) changes in applicable laws or regulations; (xiii) exchange rate fluctuations; (xiv) the possibility that Nomad or the acquired business may be adversely affected by other economic, business, and/or competitive factors; and (xv) other risks and uncertainties.

Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, Nomad undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

About Nomad Foods Limited

Nomad Foods Limited (LSE: NHL) is a leading packaged foods company. We aim to build a global portfolio of best-in-class food companies and brands within the frozen category and across the broader food sector. More information on Nomad Foods Limited is available at www.nomadfoods.com.

 

Media contact:

Guillaume Mandrou, Weber Shandwick

+33 (0)1 47 59 38 70

[email protected]  


Liz Cohen, Weber Shandwick

+1 212 445 8044

[email protected]

 

Kelly Clausen, Weber Shandwick
+1 212 445 8368
[email protected]

 

Investor Contact:
John Mills, Partner, ICR

+1-646-277-1254

[email protected]

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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